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  • Barclays faces Libor claim in landmark UK court case Wednesday, 24 Oct 2012 | 3:47 PM ET

    *Preliminary hearing in High Court on Monday. LONDON, Oct 24- Barclays will face on Monday the first claim for damages stemming from manipulation of the Libor interest rate in a landmark case before Britain's High Court that could have major implications for all UK banks.

  • UPDATE 7-Oil falls below $108 on US crude stock build Wednesday, 24 Oct 2012 | 3:21 PM ET

    LONDON, Oct 24- Brent crude oil fell for a seventh consecutive session on Wednesday after U.S. crude stocks rose last week, offsetting earlier strength prompted by signs that Chinese demand could stage a recovery. Brent crude was down 42 cents at $107.83 a barrel by 1455 GMT and looked on track for its lowest close since early August. U.S. oil fell $1 cents to $85.67.

  • Strauss-Kahn seeks comeback via conference circuit Wednesday, 24 Oct 2012 | 3:08 PM ET

    PARIS, Oct 24- Dominique Strauss-Kahn, the former IMF chief whose French presidential ambitions were shattered by a sex scandal last year, is making a comeback in business and at conferences. The 63- year-old Strauss-Kahn was accused of trying to rape a New York hotel maid in May 2011.

  • METALS-Copper steady on China optimism, euro zone weighs Wednesday, 24 Oct 2012 | 2:51 PM ET

    LONDON, Oct 24- Copper was steady on Wednesday on signs of recovery in top consumer China, although gains were capped by weak euro zone data, including in Germany, and ahead of a Federal Reserve policy statement due later on Wednesday. Benchmark three-month copper on the London Metal Exchange was $7,825 at 1434 GMT from $7,831 a tonne at the close on Tuesday.

  • ANALYSIS-Poland leans towards euro entry despite crisis Wednesday, 24 Oct 2012 | 2:48 PM ET

    *Warsaw wants to be at EU's decision-making core. WARSAW, Oct 24- Polish policymakers are shedding their doubts about joining the euro and starting to favour accession again because they believe the risks of being left outside the core of Europe outweigh the danger of joining a single currency still in the grip of crisis.

  • *Sugar market awaits crush update from Brazil's Unica. LONDON, Oct 24- ICE raw sugar turned higher on Wednesday, lifting off a three-week low as traders positioned themselves ahead of a report from Brazilian cane industry association Unica due later in the day.

  • *Production to be transferred to Spain. GENK, Belgium/ MADRID, Oct 24- Ford Motor Co will close a Belgian factory employing more than 4,000 workers, shifting production to Spain as the U.S. automaker scrambles to cut costs and stem European losses.

  • Basel official defends new global bank capital rules Wednesday, 24 Oct 2012 | 2:30 PM ET

    LONDON, Oct 24- A simple approach to reining in risks at banks would fail to capture the complexity of modern day lenders, a top global regulator said.

  • LONDON, Oct 24- Brent crude oil steadied around $108 per barrel on Wednesday after a six-day losing streak as weak European data offset earlier strength prompted by signs that Chinese demand could stage a recovery. Manufacturing PMI in Germany, Europe's largest economy, fell unexpectedly, while business sentiment dropped for the sixth consecutive month.

  • GLOBAL ECONOMY-Euro woes deepen, China, US improve a bit Wednesday, 24 Oct 2012 | 2:23 PM ET

    *Economic rot taking root in Germany, France. NEW YORK/ LONDON, Oct 24- Euro zone businesses suffered another dismal month in October as factory output plunged in Germany, the area's top economy and exporter, while conditions improved slightly for U.S. and Chinese manufacturers.

  • PRECIOUS-Gold up along with stocks; eyes on Fed meeting Wednesday, 24 Oct 2012 | 2:12 PM ET

    LONDON, Oct 24- Gold rose on Wednesday along with stock markets, helped by well received data from China and an upbeat earnings report from Boeing, while dealers awaited a Federal Reserve policy statement later in the day. Spot gold was up 0.1 percent at $1,709.60 an ounce at 1309 GMT, while U.S. gold futures for December delivery were up 60 cents an ounce at $1,710.

  • Cameron says unhappy with corporate tax avoidance Wednesday, 24 Oct 2012 | 2:09 PM ET

    LONDON, Oct 24- Prime Minister David Cameron said on Wednesday he was unhappy with the level of tax avoidance by big corporations working in Britain and urged authorities to make sure all companies paid their fair share of tax.

  • *Ireland set for return to modest economic growth. LONDON, Oct 24- The euro zone's most vulnerable economies, particularly Spain, face a much tougher 2013 than thought just three months ago, marked by prolonged recession and ever-rising unemployment, a Reuters poll showed on Wednesday.

  • COLUMN-European biofuel push hard to reverse: Wynn Wednesday, 24 Oct 2012 | 1:03 PM ET

    LONDON, Oct 24- European policymakers are discovering the difficulty of curbing a biofuel industry they weaned five years ago as a low-carbon alternative to crude oil but which is increasingly at odds with the environment and food production. To halt or put into reverse a $22 billion European biofuel industry requires a sound justification.

  • FOREX-Euro dragged down by weakening German data Wednesday, 24 Oct 2012 | 11:57 AM ET

    LONDON, Oct 24- The euro fell to a one-week low against the dollar on Wednesday after worse-than-expected German business activity and sentiment data fuelled concerns of weakness in the euro zone's largest economy.

  • *Worst of China growth slowdown may be over. LONDON, Oct 24- The euro zone's biggest member Germany is being sucked into the bloc's worsening economic quagmire, business surveys suggested on Wednesday, as similar data signalled the slowdown in China may be abating.

  • BERLIN, Oct 24- Germany is rushing to purchase a stake in EADS by year-end, fearful that the owner of the shares, carmaker Daimler, could unload them on the open market and hurt Berlin's influence in the aerospace group, a government document obtained by Reuters showed.

  • Bankers set for $30-$50 mln from TNK-BP - Freeman Wednesday, 24 Oct 2012 | 11:27 AM ET

    LONDON, Oct 24- Bankers will likely pick up $30- $50 million for their work on Russian state-owned oil group Rosneft's $55 billion takeover of TNK-BP, according to Freeman Consulting. Data from Thomson Reuters and Freeman showed fees average about $35 million on $10 billion deals, smaller than the TNK-BP.

  • Oil drops on big increase in US supplies Wednesday, 24 Oct 2012 | 11:27 AM ET

    Oil supplies grew last week by 5.9 million barrels, or 1.6 percent, the Energy Department said. Benchmark oil fell $1.04 or 1.2 percent, to $85.63 per barrel. Brent crude fell 11 cents to $108.14 per barrel in London.

  • *Group beer volumes fall in western Europe, rise elsewhere. *Shares down 2.6 pct, among weakest in Europe. BRUSSELS, Oct 24- Heineken NV, the world's third-largest brewer, reported stronger than expected third-quarter group revenue on Wednesday, boosted by U.S. and emerging market strength and price hikes, but investors focused on weakness in Europe.